Lake Street Capital Issues Pessimistic Forecast for Aviat Networks (NASDAQ:AVNW) Stock Price

Aviat Networks (NASDAQ:AVNW) had its price objective dropped by investment analysts at Lake Street Capital from $45.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the communications equipment provider’s stock. Lake Street Capital’s price target points to a potential upside of 94.81% from the stock’s previous close.

AVNW has been the topic of a number of other research reports. Roth Mkm dropped their target price on Aviat Networks from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Aviat Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. B. Riley dropped their price target on shares of Aviat Networks from $55.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, September 13th. JMP Securities reissued a “market outperform” rating and set a $50.00 price objective on shares of Aviat Networks in a research report on Tuesday, October 8th. Finally, Northland Securities dropped their target price on Aviat Networks from $40.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $38.60.

Aviat Networks Stock Performance

Aviat Networks stock opened at $13.86 on Wednesday. Aviat Networks has a fifty-two week low of $12.95 and a fifty-two week high of $38.85. The firm’s 50 day simple moving average is $22.10 and its 200-day simple moving average is $26.99. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 1.57. The company has a market cap of $175.69 million, a P/E ratio of -44.71 and a beta of 1.81.

Aviat Networks (NASDAQ:AVNW) last announced its earnings results on Friday, October 4th. The communications equipment provider reported $0.58 earnings per share (EPS) for the quarter. The company had revenue of $116.66 million for the quarter. Aviat Networks had a net margin of 2.89% and a return on equity of 13.47%. As a group, equities research analysts predict that Aviat Networks will post 2.08 EPS for the current year.

Institutional Investors Weigh In On Aviat Networks

Several institutional investors and hedge funds have recently added to or reduced their stakes in AVNW. nVerses Capital LLC acquired a new position in Aviat Networks during the second quarter valued at approximately $29,000. NBC Securities Inc. acquired a new position in Aviat Networks in the 3rd quarter valued at $62,000. BNP Paribas Financial Markets raised its holdings in Aviat Networks by 84.8% in the 1st quarter. BNP Paribas Financial Markets now owns 5,475 shares of the communications equipment provider’s stock worth $210,000 after acquiring an additional 2,513 shares during the period. Covestor Ltd lifted its position in Aviat Networks by 309.8% during the 1st quarter. Covestor Ltd now owns 5,934 shares of the communications equipment provider’s stock worth $228,000 after acquiring an additional 4,486 shares during the last quarter. Finally, Truvestments Capital LLC boosted its holdings in Aviat Networks by 26.2% during the first quarter. Truvestments Capital LLC now owns 10,654 shares of the communications equipment provider’s stock valued at $408,000 after acquiring an additional 2,213 shares during the period. 78.62% of the stock is currently owned by institutional investors and hedge funds.

About Aviat Networks

Aviat Networks, Inc provides microwave networking and wireless access networking solutions in North America, Africa, the Middle East, Europe, Latin America, and the Asia Pacific. The company offers outdoor, indoor, and split-mount radios; microwave routers, switches, and trunking; and private LTE, virtual fiber, and element management products; and hosted software products, such as aviat design, frequency assurance software, and health assurance software.